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Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
 The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their older ships as possible, freight rates are expected to remain at break-even lows or even worse. This has become particularly evident in the dry bulk shipping market, where the industry’s benchmark, the Baltic Dry Index has dropped yesterday to just 753 points, down 3.95% on the day and more than 60% since late last year.
Meanwhile, in the demolition market, as Golden Destiny mentions in its latest weekly report, “Bangladesh scrapping ban has been finally lifted, but the government has imposed a new 5% tax on purchasing vessels for scrap that is going to influence scrap buyers appetite on stronger purchases. The Bangladesh Shipbreaking Association is pushing for a reduction in the rate, down to 0.5% that could lead scrap prices to fall by as much as $25/ldt. Scrap prices for dry and wet cargo are close to $500/ldt, but the current freight market environment offers a strong incentive for shipowners to move with overaged vessel disposals and ease the pain of oversupply. India offers the best levels with Bangladesh to follow, $460-$470/ldt for dry and $480-$490/ldt for wet cargo.
The week ended with 17 vessels reported to have been headed to the scrap yards of total deadweight 1,009,630 tons. In terms of the reported number of transactions, the demolition activity has been marked with a 23% week-on-week decline, due to 30% lower volume of demolition transactions in the bulk carrier segment, whereas there has been a 28% increase regarding the total deadweight sent for scrap. In terms of scrap rates, the highest scrap rate has been achieved this week in the tanker segment by India for M/T “BOW PROSPER” with 12,200/ldt at $525/ldt. India has attracted 41% of the total demolition activity with China to follow by winning 5 disposals. At a similar week in 2011, demolition activity was up by 18% from the current levels, in terms of the reported number of transactions, 20 vessels had been reported for scrap of total deadweight 669,529 tons with bulk carriers and tankers grasping 60% of the total number of vessels sent for disposal. India and Pakistan had been offering $465-$475/ldt for dry and $500-$505/ldt for wet cargo, while Bangladesh market had been inactive from the demolition scene” concluded Golden Destiny.
In a separate report, Clarkson Hellas said that the demolition market has remained very active, with many vessels being circulated and subsequently, a big list of sales to report. “However, to judge the market value of a certain ship is becoming increasingly difficult. As evidenced in the sales list, price levels seem like a ‘free for all’ with no actual pattern emerging, clearly highlighting that each vessels value is an individual case by case scenario. On paper, some units seem similar, yet for some reason, a price differential of anything upto USD 10/ldt can be witnessed.
On the buying front, the Chinese and Indian breakers are taking the plaudits this week.
China has been very busy as they looked to acquire tonnage prior to their New Year festivities and were bidding some aggressive numbers in an effort to claw tonnage away from the Indian sub-Continent. Time will now tell whether this recent positive momentum will continue when the market reopens again after their holidays.
India too emerged this week with increasing price levels. Whether these sudden improvements were from cash buyers over-speculating or actually justified on the back of the breakers indications remains to be seen, but some Owners would have definitely benefited from the sudden enthusiasm emanating from this market.
The good news is Bangladesh is definitely open and for an indefinite period too. Some Buyers are now willing to buy tonnage giving delivery February onwards as they believe the income tax situation would be resolved within this month. There remains however the problem of which breakers can actually open Letters of Credit internally. For Owners to consider Bangladesh as an option, a certain degree of caution must still be adopted. Last thing any Owner would wish for is to arrive at anchorage and delivery is unable to take place due to delayed payments. Some cash buyers are optimistic that no such issues will occur, however this is definitely the time for an Owner to tread carefully and wisely when considering selling their units to this area. Price levels on offer appear to be not as competitive as India. However, Bangladesh may soon offer a viable alternative to China for those vessels completing in the Far East. We need to see several vessels arrive, clear inward formalities and beach without delay to know 100 percent for sure that the market is officially ‘open for business’ concluded Clarkson Hellas
Source: Nikos Roussanoglou, Hellenic Shipping
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Wednesday, 18 April 12
INDONESIA TO INTRODUCE EXPORT DUTY ON MINERAL ORES BY 6 MAY 2012
The Indonesian government is scheduled to issue regulation on export duty for minerals before May 6, 2012.
According to Bisnis Indonesia, as quot ...
Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
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- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
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